Struggling semiconductor maker Renesas Electronics Corp. is thinking of axing around 14,000 jobs, or about 30 percent of its workforce, as it negotiates the sale of a domestic factory to a Taiwanese company, sources said Saturday.
The new job reduction target would be a sharp increase from the 6,000 job cuts previously stated in its restructuring plan, and the company is thinking of achieving the target through voluntary retirements, the sources said.
The company, which reported a ¥62.6 billion consolidated net loss in the business year that ended in March, is also working out a plan to raise more than ¥100 billion through a private share placement to bolster its balance sheet, the sources said.